Latest news
Transocean to acquire competitor Songa Offshore for $1.1 billion
One of the world’s biggest oil rig operator, Transocean, is about to acquire its Norwegian rival Songa Offshore. The acquisition will be carried out through shares and convertible bonds, all worth 9.1 billion crowns ($1.1 billion).
read more... 16/08/2017
OMV does not expect a cash call from Nord Stream 2 until the end of the year
OMV is confident that Gazprom-owned Nord Stream 2 won’t be making any more cash calls until the end of the current year. OMV has already settled the first €200 million portion of its funding obligation for the construction of the 55 bcm/year pipeline from Russia to Germany.
read more... 15/08/2017
Daily (15.08.2017): Oil prices dropped by 2.6% on Monday of weakening Chinese oil demand
Oil prices decreased on Monday steeper than expected on raising concerns that a glut of refined fuel products might weaken Chinese demand for oil. Also, U.S. drilling rig data published by Baker Hughes on Friday showed explorers boosted oil drilling capacity. Oversupply has been supported by rising production in Libya, which is trying to regain its pre-war oil production levels. Brent fell by 2.63% to close at $50.73 a barrel, while WTI price declined by 2.52% to end at $47.59 a barrel.
read more... 15/08/2017
Lack of customers drives Spanish coal mine to close down
The La Escondida coal mine was shut down on Friday. The last-of-its-kind project was located in the Caballed de Arriba town, and was closed down because no one wanted to buy its coal.
read more... 15/08/2017
Overhead powerlines to be implemented into the Autobahn for freight cars
A new powerless project for freight cars is being developed by Siemens for the German Autobahn. The eHighway project aims to boost the viability of freight cars in a real-world environment.
read more... 15/08/2017